Term Priority Collateral Account Sample Clauses

Term Priority Collateral Account. Obligors shall not, and Obligors shall cause each of their Subsidiaries not to deposit any proceeds of Term Priority Collateral in any Deposit Account other than the Term Priority Collateral Account.

Term Priority Collateral Account. Deposit any proceeds of ABL Priority Collateral in the Term Priority Collateral Account or deposit any proceeds of Term Priority Collateral in any Deposit Account other than the Term Priority Collateral Account.

Term Priority Collateral Account. Subject to Section 5.13, (a) the Borrower shall maintain at least one Term Priority Collateral Account and (b) the Borrower shall enter into a customary deposit account control agreement, in form reasonably satisfactory to the Collateral Agent and the Required Lenders, with the Collateral Agent and any person with which a Term Priority Collateral Account is maintained, covering each Term Priority Collateral Account maintained with such person. Each Loan Party shall promptly deposit in one or more Term Priority Collateral Accounts all Net Proceeds such Loan Party receives from any Asset Sale of any Non-ABL Priority Collateral that are required to be applied to prepay the Loans hereunder (without giving to the reinvestment election set forth in the definition of “Net Proceeds”) and such amounts shall remain in the Term Priority Collateral Account pending reinvestment unless otherwise agreed to by the Required Lenders in writing; provided that the foregoing shall not apply to any Net Proceeds applied pursuant to Section 2.07 or 2.08 to pay any Obligations.

Term Priority Collateral Account. The Term Priority Collateral Account shall be a Deposit Account subject to a Control Agreement and in no event shall (i) any proceeds of ABL Priority Collateral be deposited in the Term Priority Collateral Account and (ii) any proceeds of Term Priority Collateral be deposited in any Deposit Account other than the Term Priority Collateral Account.